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14701 Saint Mary's Lane

LFFP Ashford Portfolio LLC Acquires Three-Building Office Campus In Houston From Midland Loan Services
SOLDOffice

LFFP Ashford Portfolio LLC Acquires Three-Building Office Campus In Houston From Midland Loan Services

14701 Saint Mary's Lane, 1155 South Dairy Ashford Road & 900 Threadneedle Street

Building Size

1,710,135 SF

Asset Type

Office

Closing

Apr 8, 2025

AI

A three-building office campus located at 14701 Saint Mary's Lane, 1155 South Dairy Ashford Road, and 900 Threadneedle Street was acquired by LFFP Ashford Portfolio LLC. The property spans 570,045 square feet and is situated in the Houston market, specifically in the Energy Corridor. At the time of the sale, the campus was 58% leased.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 14701 Saint Mary's Lane, 1155 South Dairy Ashford Road & 900 Threadneedle Street
  • Market: Houston
  • Asset Size: 570,045 SF
  • Buyer: LFFP Ashford Portfolio LLC
  • Seller: Midland Loan Services
  • Brokers: Clay Anderson, John Ream, Kevin McConn, Martin Hogan & Rick Goings - JLL

JLL represented the court-appointed receiver during this transaction, playing a crucial role in facilitating the sale. The transaction involved multiple individuals from JLL, including Clay Anderson, John Ream, Kevin McConn, Martin Hogan, and Rick Goings.

Players

John Ream

JLL

Broker

$99M

vol

6 deals

Broker

Houston Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93